Vietnam signs free trade deal with four European nations
Vietnam has signed a free trade agreement with four European countries—Norway, Switzerland, Iceland, and Liechtenstein—with the aim of boosting trade exchanges and expanding the reach of Vietnamese exports into European markets. About half of Norway's exports to Vietnam will be exempt from customs duties when the agreement comes into effect, with the percentage of duty-free exports expected to exceed 98% within seven years. Vietnam’s main exports include seafood, footwear, textiles, machinery, and electronics, while it imports from these countries machinery, chemicals, pharmaceuticals, and raw materials. It is worth noting that the trade volume between the two sides amounts to approximately two billion dollars annually. The agreement reflects Vietnam's efforts to broaden its trade network amid global economic disruptions.
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